Corient Private Wealth LP Makes New $32.46 Million Investment in FedEx Corporation $FDX

Corient Private Wealth LP acquired a new stake in shares of FedEx Corporation (NYSE:FDX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 406,717 shares of the shipping service provider’s stock, valued at approximately $32,464,000. Corient Private Wealth LP owned about 0.17% of FedEx as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ferguson Wellman Capital Management Inc. lifted its position in shares of FedEx by 3.2% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider’s stock worth $296,000 after buying an additional 26 shares in the last quarter. OneAscent Financial Services LLC grew its holdings in FedEx by 1.7% during the 4th quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider’s stock valued at $491,000 after buying an additional 29 shares in the last quarter. Whipplewood Advisors LLC increased its stake in FedEx by 9.9% in the 1st quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider’s stock worth $119,000 after acquiring an additional 30 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of FedEx by 11.9% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider’s stock worth $101,000 after acquiring an additional 30 shares in the last quarter. Finally, Arete Wealth Advisors LLC raised its holdings in shares of FedEx by 1.7% during the 4th quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider’s stock worth $514,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

FedEx stock opened at $331.45 on Friday. The firm has a 50-day moving average price of $319.23 and a 200-day moving average price of $350.85. The firm has a market capitalization of $78.44 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 1.73 and a beta of 1.30. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. FedEx Corporation has a 12-month low of $177.05 and a 12-month high of $345.36.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The company had revenue of $23.26 billion for the quarter. As a group, equities research analysts forecast that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 14th will be issued a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, September 14th. FedEx’s dividend payout ratio is presently 26.36%.

Insider Activity

In related news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the sale, the director directly owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FDX. Sanford C. Bernstein set a $397.00 target price on shares of FedEx in a report on Wednesday, June 24th. Seaport Research Partners started coverage on shares of FedEx in a research report on Wednesday, May 27th. They set a “buy” rating for the company. BMO Capital Markets restated a “market perform” rating on shares of FedEx in a report on Wednesday, June 24th. Truist Financial decreased their target price on shares of FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. Finally, Deutsche Bank Aktiengesellschaft lowered FedEx from a “buy” rating to a “hold” rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $350.54.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.